JACKSONVILLE, Fla.-- US Salt Holdings, LLC is pleased to announce that it executed a definitive agreement  today to purchase all of the assets of British Salt Limited from its current parent, Staveley Industries plc. Based in Middlewich, Cheshire, British Salt is the leading manufacturer of evaporated salt products in the United Kingdom, serving primarily the food processing, chemical chlor-alkali, and water conditioning industries. British Salt's local management will remain with the business after the sale, including Alan Gent, British Salt's Managing Director. US Salt and Staveley expect to complete the sale in the first half of April.

Mark Demetree, the Chairman and CEO of US Salt said, ``The British Salt acquisition is a very significant milestone for US Salt since it strategically positions us to be among the leading salt companies in the world. We are very pleased to be acquiring the premier white salt producer in the United Kingdom and expect that this transaction will facilitate future acquisitions of other worldwide salt assets for US Salt.''

US Salt's principal owners are First Union Capital Partners, the equity affiliate of First Union Corporation, North America's sixth largest bank holding company, and the Demetree Investment Group. Jim Cook, a Partner at First Union Capital Partners, who also serves on US Salt's Board of Directors said, ``First Union Capital Partners formed an alliance with Mark Demetree and his management team in an effort to create a substantial salt-related chemicals organization through acquisition. The British Salt transaction validates that strategic plan and we are excited about the opportunities that lie ahead as a result of this purchase.''

The British Salt transaction marks the fifth acquisition that the privately held US Salt Group has completed since its formation in October 1997 when it acquired the Watkins Glen, New York salt refinery from Cargill. US Salt's Watkins Glen facility is a leading manufacturer of salt products for the food grade, water conditioning, agricultural and pharmaceutical markets. Watkins Glen is also the second largest producer of consumer round cans in the United States. In January 1999, US Salt acquired DuPont's sodium nitrite business based in Gibbstown, New Jersey. The acquisition made US Salt the leading producer of sodium nitrite in North America and largest supplier of Nitrosylsulfuric Acid (``NSA'') in the world. Sodium nitrite and NSA are specialty chemicals that are utilized in food grade, agricultural and chemical/pharmaceutical applications. US Salt operates its sodium nitrite/NSA business under the name of its wholly owned subsidiary, Repauno Products LLC.

In February 1999, the US Salt Group acquired Verdugt b.v., Europe's leading organic salts producer, from BP Amoco. Based in Tiel, the Netherlands, Verdugt is a major supplier to the food and pharmaceutical industries, manufacturing a wide range of propionates, acetates, formates, lactates and benzoates. To further extend its geographic footprint for organic salts to North America, the US Salt Group purchased DCV's propionates and acetates business earlier this year.

JACKSONVILLE, Fla. --  The US Salt Group is please to announce that it acquired DCV's propionates and acetates business on Jan. 5, 2000.  In a separate agreement, US Salt also announced that it has entered into a long-term tolling relationship with DCV to continue manufacturing calcium propionate, sodium propionate and calcium acetate at its plant in Verona, Md.  Calcium and sodium propionates are the most common food preservatives used in bakery products.  Calcium acetate is used in various industrial and pharmaceutical applications.

The newly acquired DCV business will be merged into US Salt's affiliate, Verdugt, b.v., the world's largest producer of organic salts based on propionic and acetic acids.   Verdugt will manage the business through its sister company, US Salt, LLC, which it has appointed its exclusive agent and representative in North America.  In the next 90 days, Verdugt and US Salt plan to transfer all customer service and administrative functions for the new business to its own facilities, but existing propionate and acetate customers should continue to place orders through their present DCV channels.

Mark Demetree, who serves as Chairman and CEO for both US Salt and Verdugt, said: "The acquisition of DCV's propionates and acetates business represents another step in our efforts to build a worldwide industrial salts business serving the food, agricultural and pharmaceutical industries.  The acquisition further rounds out the portfolio of products that we can provide our food customers in North America."

JACKSONVILLE, Fla. --  Working with several institutional investors, US Salt announced today its participation in the acquisition of Verdugt, B.V. from BP Amoco.   Headquartered in Tiel, The Netherlands, Verdugt is a manufacturer of organic salts used in the food, chemical, pharmaceutical, and agricultural industries.  Verdugt's branded products include Clearway airport runway de-icers and Bio-Add anti-salmonella animal feed additives.  Although Verdugt exports its products around the world, its principal market is Western Europe.

Organized as a standalone company, Verdugt will be managed independently with US Salt providing oversight and key managerial services t the new entity.  US Salt's Chairman and CEO, Mark Demetree, will also serve as Chairman and CEO of Verdugt Holdings, LLC, the parent company of Verdugt, B.V.  All of Verdugt's existing Netherlands-based managers will remain with the business, including Job van Amersfoort, Verdugt's long-time Managing Director, who will oversee the Company's day to day activities.

Demetree said, "Verdugt will provide us an excellent acquisition platform in Europe.  In addition, US Salt's existing distribution network will enhance Verdugt's penetration of the North American human food and animal feed markets."

The Verdugt transaction represents the third major acquisition that the privately held, US Salt Holdings, has participated in during the past 15 months.  Formed in late 1997, US Salt completed the purchase of DuPont's sodium nitrite/NSA business on January 1, 1999.  The acquisition made US Salt the leading producer of sodium nitrite in North America and the largest producer of nitrosylsulfuric acid ("NSA") in the world.   Sodium nitrite and NSA are specialty chemicals that are utilized in food grade, agricultural and chemical/pharmaceutical applications.  US Salt manages it sodium nitrite/NSA business through its wholly owned subsidiary, Repauno Products, LLC, located in Gibbstown, N.J.

US Salt also operates a salt refinery located in Watkins Glen, NY and is a leading manufacturer of salt products for the food grade, water conditioning, agricultural and pharmaceutical markets.  US Salt acquired the Watkins Glen facility from Cargill in October, 1997.  Worldwide, US Salt now employs roughly 300 employees.